Natixis
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Lagardère, the French book publisher and travel retail company, has signed a €465m short term government-backed loan and extended its revolving credit facility, as the company shuffles its loan liabilities amid a plunge in revenue. -
Europe’s primary equity-linked market has reopened for 2021, with a debut €200m green convertible bond issued by Voltalia, the French renewable energy company.
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Issuers from Greater China flooded the market with dollar deals on Tuesday, capitalising on strong appetite from investors ready to put money to work in the new year.
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A pair of senior non-preferred bonds from Swedbank and Société Générale on Tuesday followed Monday’s opener from ING. With three household names now having established pricing points, rarer borrowers are starting to fill the pipeline.
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Société Générale has hired Stephane About from Natixis, where he held a senior role in the Corporate and Investment Bank.
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ING kicked off the financials market in euros on Monday, as the Dutch bank looked to extend out its callable curve at a holding company level, and with minimal new issue premia on offer, a slew of deals is set to follow.
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European banks passed a real-life stress test in 2020 as the coronavirus pandemic threatened to topple the economy. The experience has improved the standing of subordinated debt, which is becoming more important for issuers and investors alike. Frank Jackman reports.
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Klépierre, the French shopping mall company, has signed a €1.385bn sustainability-linked revolving credit facility, with the coronavirus pandemic-hit borrower pushing out its refinancing needs to March 2024.
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BPCE issued a transition bond this week to finance loans made by Natixis, its corporate and investment bank. The deal gave Natixis a chance to demonstrate the value of using a green weighting factor when allocating capital to new lending, as the mechanism helped the issuer select its assets and prove its own commitment to sustainability.
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Two Chinese borrowers, Beijing Construction Engineering Group and CPI Ronghe Financial Leasing, have closed syndication for their loans.
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The Kingdom of Morocco sold a triple-tranche dollar deal on Tuesday, which bankers say was a successful attempt to enter into a rarely tapped market upon investors’ requests.
